Squarepoint Ops LLC Lowers Stake in Stride, Inc. $LRN

Squarepoint Ops LLC cut its holdings in Stride, Inc. (NYSE:LRN) by 23.6% during the third quarter, HoldingsChannel reports. The firm owned 830,842 shares of the company’s stock after selling 256,037 shares during the period. Squarepoint Ops LLC’s holdings in Stride were worth $123,746,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. SG Capital Management LLC purchased a new stake in Stride during the 2nd quarter valued at approximately $5,859,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Stride during the third quarter worth approximately $3,391,000. Invesco Ltd. raised its stake in shares of Stride by 10.3% during the second quarter. Invesco Ltd. now owns 1,782,020 shares of the company’s stock worth $258,731,000 after purchasing an additional 165,775 shares during the last quarter. Norges Bank acquired a new stake in shares of Stride during the second quarter worth $92,858,000. Finally, Creative Planning grew its position in Stride by 32.4% in the 2nd quarter. Creative Planning now owns 18,536 shares of the company’s stock valued at $2,691,000 after buying an additional 4,535 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Wall Street Analyst Weigh In

LRN has been the topic of several recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Stride in a research note on Monday, December 29th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $125.00 target price on shares of Stride in a report on Wednesday, January 28th. Wall Street Zen lowered shares of Stride from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Morgan Stanley reduced their price objective on shares of Stride from $130.00 to $95.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Stride in a report on Tuesday, March 3rd. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $109.75.

Stride Price Performance

Stride stock opened at $84.25 on Friday. The company has a market cap of $3.59 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 0.50 and a beta of 0.12. Stride, Inc. has a one year low of $60.61 and a one year high of $171.17. The business has a fifty day moving average of $80.00 and a two-hundred day moving average of $97.79. The company has a debt-to-equity ratio of 0.31, a quick ratio of 7.19 and a current ratio of 7.27.

Stride Company Profile

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.